While the buyers and sellers remain unnamed, media reports suggest that British American Tobacco (BAT) likely offloaded a 2.6% stake in the company worth around Rs 15,000 crore.

British American Tobacco (BAT) on Tuesday, 27 May 2025, announced its plans to sell around 2.3% of its stake in ITC via a block deal to institutional investors. The move aims to boost BAT's financial flexibility, helping it reduce debt and expand its share buyback program to £1.1 billion in 2025. Despite the sale, BAT will retain a significant 23.1% stake in ITC, maintaining a long-standing partnership that dates back over a century.

Trading volumes surged with BSE seeing 1.75 crore shares change hands, compared to the 3-month average of just 6.78 lakh shares. NSE volumes surged to 40.82 crore shares, sharply above the 3-month average of 1.53 crore.

As of March 2025, the London-listed tobacco giant held a 25.44% stake in ITC, through its affiliates -- Rothmans International Enterprises, Myddleton Investment Company and Tobacco Manufacturers (India).

ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology.

The company’s standalone net profit surged 289.66% to Rs 19,561.57 crore while net sales rose 9.40% to Rs 17,020.32 crore in Q4 March 2025 over Q4 March 2024.